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Monday, May 23, 2022

Stimulus Check Update: You Might Be Owed A Car Insurance Payment

While Congress doesn’t seem to be all that interested in a fourth stimulus check, there are still some ways to earn more money. For one, you could definitely ask your car insurance company to provide you with some COVID-19 cash on their own.

Some of the providers of car insurance who saw their profits increasing exponentially during the Great Driving Solution of 2020 have already issued rebates and discounts to policyholders. Nevertheless, most of the advocacy groups as well as several government officials have stated that it wouldn’t nearly be enough. 

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A relatively new analysis has discovered that insurers can only return just a third of the extra money that they have made over time. This is precisely why most critics have been pushing for several billion more as a measure of stimulus check packages- despite insurers returning to hiking premiums. Therefore, if you have gone back to pay full price while your car languishes in the driveway, you could get a discount from your insurer if you do the following. 

Traffic And Premiums Picking Up Which Can Be Used As Stimulus Check 

According to the U.S Bureau of Transportation Statistics, the worst of the pandemic saw restrictions on the business activity as well as many other parts of normalcy- one of which included driving- to fall well below the levels that existed before the pandemic. This implies that there were far fewer accidents as well as bigger profits for most car insurers.

Progressive reported an increase of 82% in net income, while the pretax earnings of Geico’s tripled during the second and the third quarter of last year. This led to the providers voluntarily provide more than $14 billion as a separate form of stimulus check payments. 

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Now, even when the situation has gone back to normal, the fight is still being waged against auto insurance stimulus check relief. 

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